Gold bullion coin collecting is one of the best ways to invest in gold, and as we’ve reported in recent weeks, there have been a number of new coins issued already this year.

The Isle of Man is the latest to launch its new coin for 2016. The Angel bullion coin series started in 1984 and can be used as legal tender as well as being a valuable collectible.

On one side, the coin carries an image of Queen Elizabeth II, while the other features St Michael slaying a dragon. The 2016 Isle of Man Angel weighs 31.103g and has a fine gold purity of .999.

Angel coins have an interesting heritage. The English version, introduced by Edward IV in 1465, was based on the French ange or angelot coin which was named after the angel that appeared in the design. Traditionally, the coin was believed to bring good health and good luck and was given to sufferers of scrofula – known as ‘the King’s evil’ – a tuberculosis-type swelling of glands in the neck.

While possession of gold bullion coins may not keep modern collectors free from disease, choosing this form of gold investment is still considered a healthy way of building up individual stocks of the precious metal.

According to Jeffrey Nichols of American Precious Metals Advisors, buying physical gold you can hold in your hand remains a sensible option. He told CNBC this is “most liquid form of gold” and also has the benefit of being difficult to counterfeit. Mr Nichols recommended that investors have around 10 to 15 per cent of their investable assets in bullion coins.

Gold bullion coin collecting is an interesting hobby that can pay long-term dividends because as well as the value of the gold in the coin, the additional value that rare coins can command tends to increase over time.